Textured vegetable protein (TVP) is a plant-based protein source made from soy flour or other vegetable sources, which is processed to have a meat-like texture. TVP is a popular substitute for meat in vegetarian and vegan diets, and is also used in some meat products to reduce cost and increase protein content. The market for TVP is growing due to increasing demand for plant-based proteins, as well as concerns over animal welfare and sustainability. However, concerns have been raised over the quality and nutritional value of TVP, as well as its potential environmental impact due to the use of soybeans, which are often genetically modified and associated with deforestation in some regions. To address these concerns, companies are investing in new technologies to improve the taste, texture, and nutritional value of TVP, and are exploring alternative sources of plant-based proteins.
The Global Textured Vegetable Protein Market was valued at US$ 831.9 Mn in 2021 and is forecast to reach a value of US$ 1160 Mn by 2030 at a CAGR of 4.49% between 2022 and 2030.
Leading Companies in the Textured Vegetable Protein Industry:
1. Archer Daniels Midland Company
Archer Daniels Midland Company (ADM) is a global food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois, USA. ADM produces and sells textured vegetable protein (TVP), among other products. In November 2021, ADM announced its plan to expand its TVP production capacity at its soy processing facility in Rondonópolis, Brazil.
2. International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc. (IFF) is a global ingredients and flavoring company founded in 1958 and headquartered in New York, USA. IFF produces and sells TVP, among other ingredients. In October 2021, IFF announced its acquisition of MCOE Health, a company specializing in plant-based and organic ingredients, including TVP.
3. Cargill, Incorporated
Cargill, Incorporated is a global agribusiness corporation founded in 1865 and headquartered in Minneapolis, Minnesota, USA. Cargill produces and sells TVP, among other food and agriculture products. In December 2020, Cargill announced its partnership with PURIS Proteins, a company specializing in plant-based proteins, to expand its offerings of non-GMO and organic TVP.
4. Südzucker AG
Südzucker AG is a German sugar and food ingredients company founded in 1837 and headquartered in Mannheim, Germany. Südzucker produces and sells TVP, among other food ingredients. In May 2021, Südzucker announced its investment in ZELP, a plant-based protein technology company based in the Netherlands, to develop new TVP and other plant-based protein products.
5. MGP Ingredients Inc.
MGP Ingredients Inc. is a US-based distillery and food ingredients company founded in 1941 and headquartered in Atchison, Kansas, USA. MGP produces and sells TVP, among other food ingredients. In January 2021, MGP announced the launch of its ProTerra line of textured proteins, including TVP, made from wheat and pea protein.
6. Roquette Frères
Roquette Frères is a French food and ingredients company founded in 1933 and headquartered in Lestrem, France. Roquette produces and sells TVP, among other food ingredients. In March 2021, Roquette announced the expansion of its range of plant-based proteins, including TVP, to meet the growing demand for plant-based food products.
7. SHANDONG YUXIN BIO-TECH CO. LTD
SHANDONG YUXIN BIO-TECH CO. LTD is a Chinese biotechnology company founded in 2004 and headquartered in Shandong, China. SHANDONG YUXIN produces and sells TVP, among other plant-based protein products. No recent developments in TVP were found for this company.
8. CROWN SOYA PROTEIN GROUP
CROWN SOYA PROTEIN GROUP is a Malaysian food and ingredients company founded in 1990 and headquartered in Penang, Malaysia. CROWN SOYA produces and sells TVP, among other food ingredients. No recent developments in TVP were found for this company.
9. The Scoular Company
The Scoular Company is a US-based agribusiness company founded in 1892 and headquartered in Omaha, Nebraska, USA. Scoular produces and sells TVP, among other food and agriculture products. No recent developments in TVP were found for this company.
10. Axiom Foods
Axiom Foods is a US-based food and ingredients company founded in 2005 and headquartered in Los Angeles, California, USA. Axiom produces and sells TVP, among other plant-based protein products. In September 2021, Axiom announced the launch of its Oryzatein rice protein, a non-GMO, organic, and sustainable alternative to TVP made from brown rice.
11. AGT Food and Ingredients
AGT Food and Ingredients is a Canadian food and ingredients company founded in 2001 and headquartered in Regina, Saskatchewan, Canada. AGT produces and sells TVP, among other food ingredients.
*Definition-Textured vegetable protein (TVP) is a processed soy product that is often used as a meat substitute in vegetarian and vegan diets. It is made by taking defatted soy flour, extruding it into various shapes and sizes, and then drying it.
